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SPY 10-28-15 update, and what’s next. AAPL FB

Just a quick overview of the various patterns we spoke about this week, here and on twitter, up to the FED announcement. And what we are looking at from here on out.

Monday morning we looked at a small bullish PRZ on a 2minute chart (drawn in manually in Orange on the 5minute chart below). At the low we detected a large increase in Call buying, the subsequent bounce was minimal and midday we recognized that the 2min AB=CD (Orange) pattern could be a AB leg inside a larger XABCD pattern (yellow) in formation on the 5min chart. The corresponding PRZ was reached the next day Tuesday the 26th.

Tuesday Morning we saw an even larger increase in Call buying.

Wednesday Midday we saw a reversal from the PRZ, which lead to the run up into the FED, The bar before the announcement closed to a penny at the 161.8%XA

Today by 2:40 the 2min chart alerted that a CD leg going higher was a probability.

The last hour we saw again an increase in Call buying, although nowhere near the volume we saw earlier in the week.

Looking at today’s action on a 5Min chart, we see a completed AB=CD pattern.

Back to the daily chart, we see that today was a decisive close above the PRZ, that we have had as a target for several weeks.

In addition to the two levels that defines the PRZ, I’ve added a 3rd level in my indicator. In this case that is the 141%BC at 209.43. So that and the 88.6%XA are my next targets before the Monthly 161.8%XA at the ATH.

Tomorrow morning I’ll watch if we get a small pullback from this PRZ on the 5min chart. And I’ll observe the 113%BC to 127%BC range on the 5min chart.

AAPL 60min chart, from the initial entry last week, again at the 127%XA, if it clears then 161.8%XA